Updated May 12, 2025
Kittrich LLC Renews Long-Term Lease With SkyREM For 400800 SF Industrial Property In Atlanta
5070 Phillip Lee Drive Southwest
Building Size
400,800 SF
Asset Type
Industrial
Closing
Mar 27, 2025
About this deal
AI
The property involved in this transaction is a 400,800 square foot industrial asset located at 5070 Phillip Lee Drive Southwest in Atlanta, GA. This industrial property is situated within Atlanta's Fulton submarket and is owned by SkyREM.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not Disclosed
- Address: 5070 Phillip Lee Drive Southwest, Atlanta, GA
- Landlord: SkyREM
- Tenant: Kittrich LLC
- Lease Date: 03/27/2025
Kittrich LLC has renewed its long-term lease with SkyREM. As part of the agreement, SkyREM will be funding capital improvements at the property, which include a new parking lot, LED lighting, perimeter fencing, office renovations, and loading dock upgrades.
On the Map
Industrial
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Players
Atlanta Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93